Amyris highlights business achievements during investor call

By Erin Voegele | August 07, 2015

Amyris Inc. has released second quarter financial results, reporting GAAP revenues of $7.8 million, down from $9.3 million during the same quarter of 2014. Cash revenue inflow, a non-GAAP measure, totaled $5.2 million, while the cost of products sold increased to $11 million. Amyris reported a net loss attributable to common stockholders of $47.1 million, or 59 cents per basic share, and 62 cents on a diluted basis. Adjusted net loss was $37.3 million, or 47 cents per basic share.

“During the second quarter, we continued growing our specialty ingredients business with our new collaboration partnership into the food ingredients sector and our announcement today of our entry into bio-opioids as the key ingredient into the large and fast-growing chronic pain products market,” said John Melo, president and CEO of Amyris. “These are markets where we believe our technology platform is uniquely positioned to deliver low cost, high performing sustainable products. Our farnesene renewable product platform continues to deliver lower cost, better performing products into the personal care and industrial cleaning markets. These products are continuing to realize strong consumer acceptance and continued revenue growth evidenced by our recent successful product launches of Biossance skin care and Muck Daddy hand cleaner products.”

“We've delivered more than half our 2015 expected collaboration inflows in the first half of the year and have already started successful production of our fragrance molecules for delivery to our customers in the second half of 2015 where we expect to realize strong product revenue growth. We're very pleased to have successfully transitioned from the development phase of our hydrocarbon fuel development program to the commercialization phase with our partner Total and expect to realize further simplification and focus on our high-margin and high-growth specialty ingredient and performance materials business,” Melo continued.

During an investor call, Melo elaborated on the company’s expanded market presence in the personal care industry, providing an overview of its presence in the cosmetic and pharmaceutical spaces. He also addressed Amyris’ business in the performance chemicals and industrials markets.

Regarding fuels, Melo stressed Amyris is the first company in its sector to have successfully transitioned from the development phase to the commercialization phase with regard to renewable hydrocarbon fuels. “We are very pleased with our relationship with Total and are continuing to work closely with them on commercialization of fuels along with supply opportunities for our performance materials,” he said. “The transition from development to commercialization will result in lower operating costs for us going forward. This transition has also provided us full access to global renewable diesel rights, and we are in active discussions for potential regional licenses for our fuel technology.” During the call, Melo also noted that Amyris continues to believe in the long-term disruptive nature of industrial biotechnology for large commodity markets, such as fuel.